As said in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines, look no further than Saxton Appraisals, Inc..
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "should figure out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "should also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions supplement regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value dealings as a method to help in exposing valuation complications."
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Saxton Appraisals, Inc., we are trained in every form of appraisal review, review practice and the requirements of review appraisers.
We understand what the most prevalent weaknesses are, specifically in our real estate market. We also understand what makes a quality appraisal. We're also experienced enough to identify that our competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly evaluate appraisal reports done by others. And those others might be reviewing our work, too!
In short, at Saxton Appraisals, Inc., you can be sure of our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.